The Turkish citizenship by investment program is one of the most popular ones among investors.
Cosmopolitans can obtain second citizenship by investing $400,000+ in the country’s economy. There are five options available: a purchase of real estate or units of an investment fund or bonds, participation in the share capital of a Turkish company, opening of a deposit in a Turkish bank.
The purchase of real estate is the most popular option. Real estate prices grow by 15 to 25% per year in Turkey. As a result, home sales to investors grew by 43.5% in 2021.
Family members such as a spouse and children can get the second citizenship in Turkey along with the investor.
Citizens of Turkey can get a C-2 Schengen visa for 5 years. The visa allows to stay in the Schengen countries for up to 90 days out of 180.
Holders of the Turkish passport visit 110 countries without a visa: they freely enter Japan, Singapore, South Korearnand other countries.
Investors can go to Turkey any time, even if the borders are closed. This is extremely important in case of an emergency: a political crisis, epidemic, threat to the safety of family members.
The second citizenship gives the right to live, work, study and run a business in Turkey without restrictions.
Turkish citizens can get an E-2 visa, which allows an investor and his family to live and work in the USA. To get the visa, the investor opens or buys a business in the USA. The minimum investment sum is not defined but applicants usually invest $100,000+ in a business project.
Investors with Turkey citizenship can get a В-1/В-2 visa to the USA. For that, they apply and pass an interview in US consulates in Turkey, e.g. in Istanbul or Ankara.
An investor can return the money three years after obtaining citizenship in Turkey — by selling the investment real estate. There are no sale restrictions.
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The Turkish program offers five investment options::
1. Purchase of real estate — $400,000+
2. Business investments — $500,000+
3. Bank deposit — $500,000+
4. Purchase of government bonds — $500,000+
5. Purchase of units in an investment fund — $500,000+
Under the Turkish Citizenship Law, the investment sum is set in US dollars due to the volatility of the national currency.
95% investors choose the purchase of real estate because prices grow by 15 to 25% every year on the Turkish real estate market. Over the past two years, the cost of apartments in US dollars has doubled. Investors can purchase housing or commercial facilities, a piece of land, a share in a real estate project. After three years, the object can be sold to anyone, not necessarily to an investor who also wants to participate in the Turkish citizenship program.
The investment amount doesn’t depend on the investor’s family composition.
|Purchase of real estate||$400,000|
|Related taxes and fees||$14,000+|
|Government fees under the citizenship program||$574 per each family member|
Investments are made in the capital stock of a Turkish company. Another option is to open your own company, which will create at least 50 jobs. After three years, the investor can sell his share in the business.
The investor can withdraw funds from the account three years later.
The investor can sell the units three years later. During ownership, the investor receives passive income.
The investor can sell the bonds three years later.
Get an individual calculation for your family with all associated costs and government feesGet the cost calculation
Immigrant Invest conducts its own preliminary Due Diligence to prepare for the check in the citizenship by investment unit. The preliminary Due Diligence helps to identify risks if rejection and find a solution in advance.
The preliminary check is completely confidential. An investor provides only their passport.
Immigrant Invest is one of the few companies in the field of investment migration that has its own Compliance Department. Clients’ documents are checked by a certified Anti Money Laundering Officer who knows the nuances of Due Diligence procedures in different countries.
The preliminary Due Diligence lowers the risk of citizenship denial to 1%.
Immigrant Invest lawyers provide the investor with a list of personal and financial documents required to participate in the program. When the documents are received, the lawyers prepare them for filing an application: the documents are translated, copies are certified and government forms are filled out.
The Immigrant Invest real estate department selects properties that meet the investor’s requirements. For example, it can be an apartment for rent or a purchase of property under construction. Our lawyers check the clean title to a property and the terms of the contract.
The investor chooses an object and makes an advance payment in the amount of $1,000 to $5,000. Then the contract of sale and purchase is signed and paid: it includes the total cost of the object minus the advance payment.
Immigrant Invest lawyers help to get a certificate of ownership and a VAT exemption of 0% per transaction. We also receive two conclusions: an assessment of the value of the object and a report on the compliance of real estate with the conditions of the Turkish citizenship program.
We help to obtain a residence permit in Turkey for participants in the citizenship program and immediately after that we submit an investor’s application for citizenship. The citizenship by investment unit conducts Due Diligence which lasts 2 to 3 months. Specialists study the investor’s documents, check information about them and their family in international databases.
Due Diligence is the decisive stage of the program. The results of the check define whether the applicants will receive citizenship.
After the approval of the application, the investor receives a passport. To get a passport, it is not necessary to come to Turkey: the document can be received at a Turkish embassy or a consulate in another country.
If the investor wants to get an ID-card, it is necessary to submit biometrics. Fingerprinting is usually organized at a Turkish embassy or the investor can come to the country. The ID-card will be ready in 2-3 weeks after the submission of biometrics.
Schedule a meeting in one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.
No one can guarantee that you will get a passport. If you are promised a 100% guarantee of obtaining citizenship, most likely you are dealing with scammers.
Immigrant Invest is one of the few law firms on the investment immigration market with its own Compliance Department. We conduct a preliminary check of applicants to identify the risk of rejection and find solutions to possible problems. Thanks to this, most of our clients successfully pass Due Diligence and receive citizenship.
Choose the option with a purchase of real estate. The property can be sold after 3 years and the money returned.
As long as the investor owns the property, he can receive income from renting real estate out. Some developers predict rental yield at the level of 8% per annum in US dollars. The investor pays a capital gains tax of 35% on the rental income.
Turkish passports by investment are obtained remotely. The investor and his family members do not take exams on knowledge of the Turkish language and the history of the country. There are no requirements to reside in Turkey.
In addition to the cost of real estate, the applicant pays state and notary fees, and pays for the property examination. In total, related costs amount to about 5% of the property value.
No, only a licensed program agent can apply on behalf of an investor by law.
Together with the investor, their spouse and minor children under 18 years old can participate in the investment program. It is also possible to get a residence permit for parents of the investor or their spouse, as well as for children over 18 years old.
The fee for a residence permit under the investor program is $5,000 per person. One can apply for a residence permit simultaneously with the investor’s application for citizenship or after the investor has received a Turkish passport.